National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — Q3 2022 Earnings Presentation
17 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Nov 15, 2022
Slide 1: Q3 2022 Earnings Presentation
National Central Cooling Company PJSC (DFM: TABREED) Q3 2022 Earnings Presentation 15 November 2022
Slide 2: Disclaimer
Disclaimer • These materials have been prepared by and are the sole responsibility of the National Central • No person is authorized to give any information or to make any representation not contained in and Cooling Company PJSC, ‘Tabreed’ (the “Company”). These materials have been prepared solely f
Slide 3: Agenda
Agenda 1 Business Updates and Performance Highlights 4 2 Financial Results 9 3 Conclusion 14 | 3
Slide 4: Business Updates and Performance Highlights
01 Business Updates and Performance Highlights
Slide 5: Key Highlights
Business Updates and Performance Highlights Q3 2022 Highlights Financial Highlights: 9M 2022 vs. 9M 2021 AED 1,660m AED 1,607m AED 912m AED 400m +13.3% +13.8% +17.5% +3.0% Total Revenue Chilled Water Revenue EBITDA Net Income Performance Highlights and Other Developments • Total Revenue increased by
Slide 6: Tabreed at a Glance
Business Updates and Performance Highlights Tabreed at a Glance One of the world’s largest district cooling companies 86 Environmentally responsible operations reducing green house gas emissions* plants in 4 countries 2.26 billion kWh 1.35 million tons reduction in energy consumption in the eliminat
Slide 7: Connected Capacity (kRT)
Business Updates and Performance Highlights Connected Capacity (kRT) Consolidated Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 UAE 954 1,025 1,033 1,038 1,053 Bahrain 33 33 34 34 34 Oman 33 33 51 51 52 Total Consolidated 1,019 1,091 1,118 1,123 1,139 Equity Accounted UAE** 74 9 9 9 9 KSA 110 110 110 110
Slide 8: Headline Performance
Business Updates and Performance Highlights Headline Performance UAE Other 1 Long-term • Providing over 1.24m RT of cooling across GCC – grown at 9% CAGR since 2019 Group Connected Capacity (kRT) 1,352 1,241 contracts with • Long term contracts (~25 years) mean approx. 81% of contracted capacity loc
Slide 9: Financial Results
02 Financial Results Otabreed
Slide 10: Income Statement
Financial Results Income Statement Consolidated Financials (AED m) 9M 2022 9M 2021 Variance % Key Observations Revenue 1,659.5 1,464.7 194.8 13% • Overall, increase in revenue, operating costs Chilled water revenue (97%) 1,607.2 1,412.9 194.4 14% and Administrative and other expenses mainly Value ch
Slide 11: Financial Position
Financial Results Financial Position Consolidated Financials (AED m) 30 Sep 2022 31 Dec 2021* Variance % Key Observations Fixed Assets 8,116.3 8,237.0 (120.7) (1)% • Decrease in intangibles is primarily due to deconsolidation of IBA on investment disposal Intangibles 4,179.5 4,284.5 (104.9) (2)% and
Slide 12: Cash Flow Statement
Financial Results Cash Flow Statement Consolidated Financials (AED m) 9M 2022 9M 2021 Variance % Key Observations Profit from Operations 590.4 483.4 106.9 22% • Strong cashflow from operation with Cash Finance lease amortization 81.8 99.6 (17.9) (18)% conversion of 95% EBITDA Depreciation and Amorti
Slide 13: Debt Portfolio and Return Ratios
Financial Results Debt Portfolio and Return Ratios Investment grade status affirmed by both Fitch and Moody’s 1 Net Debt* Profile (AED m) 2 Debt Maturity Profile 6,165 5,831 653 * * 637 5,378 5,512 5,193 2,914 Dec-19 Dec-20 Dec-21 Sep-22 2022 2023 2024 2025 2026 - 31 3 Net Debt* to LTM EBITDA 4 Retu
Slide 14: Conclusion
03 Conclusion Otabreed
Slide 15: Environmental Impact
Conclusion Environmental Impact Tabreed has set its own targets to support energy consumption reduction and emission prevention, through innovative technology solutions and environmentally-friendly practices. Pioneered various innovations Demonstrated environmental impact (LTM Q3 2022) Utilization o
Slide 16: Partner of choice across GCC for environmentally friendly cooling solutions
Conclusion Partner of choice across GCC for providing environmentally friendly cooling solutions • Recently implemented Nemo, ENGIE’s • A utility-like service considering the warm bespoke AI operations software, for climate of the Middle East with operational Downtown DCP network track record of > 2
Slide 17: Contact Us
Contact Us Rajiv Pandya Churchgate Partners Email: Tabreed@churchgatepartners.com Salik Malik Riyad Hammad Vice President, Finance Head of Treasury and IR Tel: +971 2 2020397 Tel: +971 2 2020367 Email: smalik@tabreed.ae Email: rhammad@tabreed.ae
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